ive been wondering do rotary engines wear out faster than regular engines and have to be replaced after so many k miles?

Depends. Most n/a rotaries last a hell of a long time. It's the turbo ones that tend to go quick. And a rotary is like a rechragable battery.. it'll run beautifully till its last day, then pop suddenly out of the blue. But for an example, my GXL has 117k miles and my TII has 128k miles and they both run fine.

they probably won't outlast many honda engines but I'm sure they can outlast most camaros and mustangs

rotary engines last longer under abuse (like racing abuse)
but on the street, they're a bit less reliable, yes.